More so than in any other time in our country`s history, our economy is based on consumer debt. In fact, in this age of multibillion dollar corporate bailouts, easy credit and relentless bombarding of seductive messages cajoling us to charge, consume, buy it is not surprising that so many people are drowning in debt.
For many of us, this debt is insurmountable and is causing family problems and feelings of hopelessness and even suicide. With credit card interest as high, or higher, than 20%, many feel like modern day indentured servants. Many times, the debt is occasioned by unforeseen events such as loss of a job or medical bills, but more often it is simply poor planning. Nevertheless, in instituting our bankruptcy laws, Congress recognized that responsible, wellintentioned people could from time to time run into financial problems. By allowing you to recover from your debt burden you will be able to start afresh, look to the future and become a more productive member of society. This is good for you and for good for society as a whole.
